Gatcoin Token Sale
Gatcoin Token Sale
While some economists may argue that low points utilization is good for the merchant, we think this is terrible. There is no use, in our view, of issuing thousands of points to consumers who routinely ignore them. This creates a bad user experience and is an incredible waste of resources on the mechants end.
Even though discount coupons and loyalty points are powerful tools to trigger purchases, there is a surprising lack of consumer utilization. We believe this is a consequence of the traditionally illiquid and inflexible nature of retail points and shopping incentives, meaning users aren’t easily able to transfer,exchange or sell them to other users. Customers interested in a brand or product don’t have easy access to any potential coupons for the product or service they would actually like to buy. Oftentimes these coupons are given in the form of actual paper coupons or store cards to save loyalty points. Both are highly impractical for usage on a daily basis as they all have to be constantly carried around in physical wallets.
Merchants have a hard time retaining customers. Prior to the digital information age, comparing different offers was a lot harder than it is nowadays with online price comparisons and reviews. Today, consumers are much more likely to switch to whichever is the cheapest, or has the highest reviews. Brick-and-mortar merchants (offline stores) face an even tougher challenge without the rich data set of their online competitors to target consumer groups by demographics, spending preferences or geolocation. Brick-andmortar merchants often send out large quantities of these coupons to users, creating vast amounts of spam without even offering real value to the consumer.
Cryptocurrency markets today give merchants a once-in-a-lifetime opportunity to transform their promotional points into digital tokens. Digital tokens have a market price and hence an immediate discernible value.
GATCOIN is the first system designed specifically to enable merchants to conveniently issue branded cryptocurrencies to a mass consumer audience. Discount coupons, loyalty points, and gift rewards will be “tokenized” and air-dropped by geolocation as cryptocurrencies to customers on the GATCOIN blockchain.
The key feature of the GATCOIN system is that branded Merchant Tokens can be freely traded for GAT,a public cryptocurrency like Bitcoin or Ethereum. Customers can now take GAT to any exchange in the world and trade them for real cash. The ability to convert incentive points into real money frees the customer from any single points ecosystem. It also allows consumers to achieve 100% utilization of their disparate incentive points.
The GAT System
The proposed GAT System provides the solution to the mentioned problems. This chapter will describe the way in which the GAT System is the solution and even adds extra functionality and benefits to its stakeholders. The GAT System is a broader enterprise system through which global merchants may issue their own branded digital tokens that can be used as discounts, gift cards and other promotional offerings.
These tokens are called Merchant Tokens. GAT acts as the backbone to the system and is a new ERC20 cryptocurrency that will be launched on the Ethereum main network. Consumers can use their GAT to acquire Merchant Tokens or to convert their Merchant Tokens to GAT on the GAT Exchange. It will be the exclusive currency for the trade of Merchant Tokens and incentivization of its users. We create a distinction between five different types of Merchant Tokens:
1. Loyalty Reward Points
These Merchant Tokens are used to buy or redeem real products and services from participating merchants.This will enable merchants to issue these tokens to a mass consumer audience with minimal set-up, allowing them to quickly adopt token usage as part of their overall marketing strategy. The GAT System provides a stable and scalable solution for the controlled distribution of Merchant Tokens and consists of:
|Crowdsale Opening Date||
434 days ago
|Crowdsale Closing Date||
420 days ago